Head of Finance
Reports to Chief Executive Officer
Responsible for directly overseeing all financial aspects of the Partnership, including matters ranging from grant management, financial reporting, cash management, and investing, among other things. The Partnership’s CFO will manage all finance and accounting operations, including the Partnership’s fiscal team, the formulation and implementation of policies and procedures affecting the financial and internal controls of the Partnership, and the management of all public and private funds received and expended by the Partnership. Coordinates and directs the preparation of the annual budget, financial forecasts and required reports. Ensures compliance with federal, state, and local laws governing non-profit and federal finance and grants management. Oversees budget creation and expenditure alignment. Liaises directly with auditors for preparation of audited financial statements and all other required reporting.
Key Responsibilities and Duties
- Ensures financial reporting complies with state, local and federal statutory law, and financial regulations.
- Develops financial strategies and forecasting procedures, including risk minimization plans.
- Performs high-level financial reporting and analysis, advising CEO and Board of findings and projections.
- Presents organization’s financial status, reports and analyses to the Board, staff and other key stakeholders. Advises the Finance Committee and CEO on investment strategies and returns on investments.
- Responsible for providing regular fiscal reports to the Partnership’s Corporate Board as well as the Chicago Cook Workforce Innovation Board.
- Develops, documents and memorializes all business processes and accounting policies to maintain and strengthen internal controls.
- Improves efficiencies and reduces costs across the Partnership and its network of agencies.
- Collaborates with management and/or executive teams to foster transparency and awareness, share information, and ensure sound operation of the fiscal unit.
- Engages stakeholders where necessary.
- Manages organizational debt and collection procedures.
- Oversees timely preparation and annual filing of required financial statements, tax and charitable organization documentation; ensures management and timely completion of annual audit as well as audits of sub-grantees.
- Prepares and distributes all periodic financial reports, cost allocation methodologies/plans to all federal, state, local and philanthropic funders as required.
- Oversees financial record maintenance in compliance with audit standards.
- Interacts with federal, state, local agencies and other regulators as needed for compliance and efficient operations or as directed by the Partnership’s CEO.
- Maintains sufficient funds for current and ongoing operations.
- Supervises accounts payable activities to ensure efficient and accurate processing.
- Administrative/Operational responsibilities include: approving expense and other financial reports/requisitions; and determining appropriateness/need for program and staff-related purchases.
- Manages team of accountants, invoice/voucher coordinators, compliance monitors and support staff from a strengths-based model of coaching, training, and continuous improvement. Promotes, supports and encourages staff’s professional development. Establishes annual goals and objectives and determines staffing needs to achieve same.
- Performs administrative functions including assigning work, approving time off, providing guidance and training, giving oral and written reprimands when necessary, effectively recommending grievance resolutions, and completing performance evaluations. When necessary, counsels staff on issues of productivity, quality of work and conduct.
- Performs other duties as assigned or as deemed necessary by the CEO or the Board.
- Graduation from an accredited college or university with a Bachelor degree, preferably in accounting, business administration, finance or related field, PLUS a minimum of ten (10) years of non-profit senior leadership experience in financial management including federal grants and multiple funding streams OR equivalent combination of professional work experience, training and education. Proven track record functioning as a CFO preferred.
- CPA strongly preferred
- Thorough knowledge of accounting principles and federal and state fiscal procedures.
- Experience overseeing substantial budgets in excess of $70M with multiple funding streams including federal grants/contracts required.
- Significant experience creating, analyzing, and managing the preparation of a variety of financial information such as financial statements, reports, and forecasts.
- Must be able to occasionally travel offsite for various events, meetings, or related activities.
- Ability to travel throughout the region, state and nationally, if necessary.
Knowledge, Skills, Abilities and Other Characteristics:
- Ability to work in a racially diverse environment in which working towards racial equity in the workforce or economic development or social service sectors is key.
- Demonstrated experience and ability to manage a team of accounting and compliance staff.
- Demonstrated knowledge and application of sound management practices.
- Ability to speak effectively before and among stakeholders including employees, board members, delegate agencies, and the general public. Ability to work and liaise with auditors.
- Ability to create, analyze and explain routine reports to Board Members, and fiscal and non-fiscal staff.
- Excellent written skills and verbal communication.
- Familiarity with government and non-profit organization reporting, accounting, financial standards and principles.
- Excellent knowledge of U.S. GAAP (Generally Accepted Accounting Principles) and other financial standards and regulations.
- Excellent knowledge of accounting and financial processes (budgeting, cost allocation, accounts payable)
- Detail-orientated —demonstrates the ability to identify errors, irregularities and take appropriate action in a timely manner.
- High ethical standards—demonstrates concern for compliance with rules and regulations, ability to discern inappropriate or illegal acts, and take proper action in a timely manner.
- Knowledge of the Workforce Innovation and Opportunity Act is preferred but not required.
- Proven knowledge of data analysis, data analytics, and forecasting.
- Experience with accounting and financial management systems such as Great Plains and payroll systems
- Knowledge of MS Office, including Excel.
- Self-directed, flexible and the ablility to work in a team of leaders as well as be an effective leader for the Partnership’s fiscal team.
- Ability to prioritize and manage multiple, competing obligations.
- Ability to work in a fast-paced, culturally diverse environment.
- Attention to detail and problem-solving ability.
- Diverse candidates are strongly encouraged to apply.
The duties listed are not set forth for purpose of limiting the assignment of work. They are not to be construed as a complete list of the many duties normally to be performed under a job title or those to be performed temporarily outside an employee’s normal line of work.